Cyprus to Launch New Pathway with EUR 250,000 Investment

Cyprus will launch a new residency program with an investment of EUR 250,000 for financially independent individuals. The country aims to bring foreign investment and drive the economy to support the residential and real estate sector. The country has an existing Golden Visa, which allows it to invest a slightly higher amount of EUR 300,000 in purchasing a minimum of two real estate properties or invest in company shares or investment funds.

Below are the requirements for the New Residency Program:

1. Have an income of EUR 40,000 plus (EUR 10,000 for each additional family member)
2. You must invest EUR 250,000 worth of private housing such as apartments, houses, etc.
3. Must have a clean background and no health issues
4. No language or education requirement

As per the latest update, the program is designed for non-EU citizens with an income of EUR 40,000 and can invest a minimum of EUR 250,000 in residency property. Applicants and their families will achieve Cyprus Permanent Residency upon investing. They are eligible for fast-track citizenship by staying in the country for as few as 3.5 years.

The country’s Home Affairs Committee members have suggested lowering the investment threshold from EUR 250,000 to EUR 150,000, making it more accessible for the public and allowing them to invest in a wide range of new and existing properties. However, the other committee members have resisted the new suggestion as they believe it will inflate the existing property rate, making it difficult for the locals to buy homes. On the contrary, the country’s existing golden visa has an investment of EUR 300,000, which did not reportedly inflate the current prices of the real estate industry in Cyprus.

Why should you choose the New Residency Program of Cyprus?

• Get unconditional permanent residency to entire family by investment
• Enjoy the high quality of life, beautiful Mediterranean climate, friendly culture, and a range of amenities and services
• Settle in a safe and peaceful destination with low crime rates
• Get easy access to Europe with Cyprus PR and visa-free travel to Schengen countries
• Eligible for Cyprus citizenship after staying for 3.5 years in the country. You can include your spouse, children under 25 years of age, parents and parents-in-law for the fast-track
• The country enjoys many tax initiatives which has a 12.5% corporate tax rate, low progressive income tax rates, etc.

If you want to know more about the Cyprus PR and application process, connect with our business visa experts at 8595338595 or mail us at [email protected]